PRESS RELEASE: TIAA Joins Portability Services Network Consortium
NEW YORK, April 4, 2023—TIAA, a leading provider of secure retirements and outcome-focused investment solutions to millions of people and thousands of institutions, is joining Retirement Clearinghouse, LLC (RCH) in a new consortium that aims to help America’s under-served and under-saved workers —especially minorities, women and low-income workers—improve their retirement outcomes. The consortium, known as the Portability Services Network, LLC (PSN), will help workers automatically move smaller retirement savings in 401(k), 401(a), 403(b), and 457 accounts to their new employers’ plans as they change jobs.
PRESS RELEASE: Empower Joins New Consortium to Accelerate Adoption of Auto Portability
GREENWOOD VILLAGE, COLO. (February 13, 2022) – Empower will join forces with the Retirement Clearinghouse, LLC (RCH) and other leading retirement services providers in a new consortium to accelerate the nationwide adoption of auto-portability to help more American workers improve their retirement outcomes. Under the new consortium, called the Portability Services Network, LLC (PSN), workers with lower balances who change employers can have their workplace retirement savings automatically moved to their new retirement plans.
PRESS RELEASE: America’s Leading 401(k) Providers and Retirement Clearinghouse Collaborate to Implement a Nationwide Network for Auto Portability
CHARLOTTE, October 5, 2022 -- Fidelity Investments®, Vanguard, and Alight Solutions announce that they have collaborated with Retirement Clearinghouse, LLC (RCH) to create a consortium of workplace retirement plan recordkeepers, Portability Services Network, LLC, to accelerate the nationwide adoption of auto portability to help America’s under-served and under-saved workers improve their retirement outcomes. With this historic development, American workers who change employers can have their workplace retirement savings automatically move to their new retirement plans.
